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PA to create editorial board to stay 'fast, fair and accurate'

PA Group is to create an editorial board to maintain its principles of “fast, fair and accurate” reporting as it further expands into commercial markets.

As it reported a five per cent rise in underlying operating profit to £6.4m and a 15 per cent increase in revenues to £87m, the company which owns the Press Association also announce the retirement of group chairman Sir Harry Roche after 20 years as a director of the company.

Paul Potts, the group chief executive, will take up the role of executive chairman.

At its annual meeting yesterday the company reported its 2006 results showed further progress in its strategic aim of becoming an international information business.

Highlights of 2006 included the acquisition of SportsTicker, a leading US supplier of sports data, and investment in Australian sports data business, Sportal, which together with PA Sport’s existing businesses in the UK, Europe, South Africa and Asia have established PA Sport as a global business.

The group’s weather business, MeteoGroup, continued to expand with new operations in Poland and Sweden.

PA also expanded its multimedia activities and plans further investment in video journalism in 2007.

Paul Potts said: “PA Group is evolving from a purely domestic news agency to an international information supplier and from a service offering only text and stills to a fully integrated multimedia company.

“We have made considerable progress during 2006, working to our strengths as a reliable and cost-effective information provider while remaining true to our principles of fast, fair and accurate reporting.

“We have also been successful in innovating to deliver the services our expanding range of customers need. There is, of course, more to be done and 2007 will be another challenging year but I am encouraged by our progress so far. ”

Sir Harry said: “The Press Association Trust will safeguard the agency’s editorial independence and enshrine its principles of accurate reporting in the constitution of the group. This is an important step as the group continues to expand into commercial markets.” Do you have a story about the regional press?
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